Decoding Qualcomm's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish stance on Qualcomm QCOM.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with QCOM, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 20 uncommon options trades for Qualcomm.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 45%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $408,457, and 10 are calls, for a total amount of $717,386.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $125.0 to $290.0 for Qualcomm over the last 3 months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Qualcomm's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Qualcomm's whale activity within a strike price range from $125.0 to $290.0 in the last 30 days.

Qualcomm Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About Qualcomm

Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.

Current Position of Qualcomm

• Currently trading with a volume of 5,175,156, the QCOM's price is down by -3.25%, now at $205.63.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 37 days.

Professional Analyst Ratings for Qualcomm

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $247.5.

• Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Qualcomm, targeting a price of $245.
• Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on Qualcomm with a target price of $235.
• An analyst from Tigress Financial has decided to maintain their Buy rating on Qualcomm, which currently sits at a price target of $270.
• An analyst from Mizuho persists with their Buy rating on Qualcomm, maintaining a target price of $240.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Qualcomm, Benzinga Pro gives you real-time options trades alerts.